TOKYO (Reuters) - Nomura Holdings Inc <8604.T> has inked a
deal to become the investment manager of a U.S. mutual fund
specializing in Japanese issues, marking its full-scale entry
into the U.S. retail mutual fund market.

Nomura Asset Management said it would invest significant
resources to market and distribute The Japan Fund, the oldest
independent U.S. fund focused on investing in Japan and which
has over $300 million in assets under management.

Japan's largest brokerage group replaces Fidelity as the
fund's asset manager. Fidelity has its own fund specializing in
Japanese issues.

"This alliance provides Nomura Asset Management with an
expedited entrance into the U.S. retail mutual fund market. It
allows us to leap frog to a leadership position in the
marketplace," Shigeru Shinohara, Chief Executive of Nomura
Asset Management U.S.A., said in a statement on Monday.

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Nomura also hopes to offer several other funds specializing
in stocks from other Asian countries such as China and India, a
spokesman for Nomura Asset said.

The broker is eager to expand its overseas presence and
also

said on Monday that has started a fund worth 2.1 billion
euros ($3.3 billion) to buy unsold loans and undervalued
companies in Europe.